Judge approves sale of Weinstein Co. to private equity firm

WILMINGTON, Del. — A Delaware bankruptcy judge says she will approve a private equity firm’s purchase of the Weinstein Co., the studio forced into bankruptcy by the sexual misconduct scandal that brought down Hollywood mogul Harvey Weinstein.

The judge Tuesday greenlighted the sale to Dallas-based Lantern Capital. Lantern offered $310 million cash for the Weinstein Co.’s assets and to assume $127 million in project-related debt. It also agreed to cover obligations related to assumption of certain contracts and leases.

The company’s primary assets are a lucrative 277-film library, a television production business, and an unreleased film portfolio that includes four distribution-ready films and other projects in various stages of development.

Weinstein Company Holdings and 54 related entities sought bankruptcy protection in March amid a sexual misconduct scandal that brought down co-founder Harvey Weinstein.

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Randall Chase, The Associated Press